Gasoline Prices Highest in Two Months

December 5, 2006

By Tom Moeller

· Pump prices for regular unleaded gasoline increased five cents last week to an average $2.30 per gallon after penny increases during both of the prior two weeks. The gains lifted the average price to its highest since the opening week of October.

· The spot market (NY harbor) price for a gallon of regular gasoline slipped yesterday for the third straight day, but at $1.68 per gallon still reflected the hefty gains early last week. 

· Crude oil prices also fell yesterday but at $62.90 (5.0% y/y) the cost of a  barrel of WTI was up from the $59.37 averaged in November and the $58.88 in October.

· Seasonably cold temperatures also lifted natural gas prices to $7.91/mmbtu, the highest level since early August. The Natural Gas Distribution System can be found here

· The latest Short-Term Energy Outlook from the U.S. Energy Information Administration is available here

Weekly Energy Prices 12/04/06 11/27/06 Y/Y 2005 2004 2003
US Retail Gasoline Price, Regular $2.30 $2.25 7.0% $2.27 $1.85 $1.56

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